Minister of Financing of Ukraine Sergii Marchenko went over the destination of financial investments to Ukraine through the system for guaranteeing versus war threats with MIGA agents.
This is mentioned in the news release by the Ministry of Financing of Ukraine following the minister’s conference with Executive Vice President of the Multilateral Financial Investment Assurance Firm (MIGA) of the World Bank Group Hiroshi Matano and Vice President of Operations of MIGA Junaid Ahmad.
” Guaranteeing financial investments versus war threats is an essential action in increasing the self-confidence of foreign financiers in our nation. I am grateful to MIGA for developing the SURE war danger insurance coverage trust fund, which assists to execute insurance coverage jobs in Ukraine. Given that the start of the full-blown war, MIGA has actually provided warranties to Ukraine amounting to USD 196 million” Marchenko stated.
The celebrations gone over even more potential customers for the advancement of cooperation in the context of drawing in foreign direct financial investment to Ukraine through the system of war danger insurance coverage.
The donors of the SURE Trust Fund are Japan and the UK with contributions of USD 23 million and USD 25 million respectively.
The Minister of Financing likewise kept in mind the company’s function in supporting Ukrainian banks. In 2023, MIGA offered warranties for the International Financing Corporation’s Global Trade Financing Program in the quantity of USD 20 million and the EBRD’s Trade Financing Program in the quantity of USD 10 million, which will support trade operations including Ukrainian banks Ukreximbank, Ukrgasbank and Oschadbank.
The Ministry highlights that in 2023, MIGA offered extra warranties to ProCredit Holding in the quantity of EUR 47.5 million to cover a boost in equity financial investments; conclusion of the very first phase of building and construction of Lviv Industrial Park in the quantity of EUR 9.2 million; and CANPACK S.A. in the quantity of USD 13.96 million to increase the share capital of the business took part in the production of light metal product packaging, metal processing, and so on
At the conference, the celebrations went over the execution of brand-new war danger insurance coverage jobs in the future. Marchenko kept in mind that Ukraine has an interest in broadening insurance coverage programs to all concern sectors of the nation’s economy.
Picture: Ministry of Financing